Shares of Apptio Inc. (NASDAQ:APTI) have been assigned an average rating of “Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.56.
APTI has been the topic of a number of research reports. BidaskClub upgraded Apptio from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Zacks Investment Research cut Apptio from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. KeyCorp restated a “buy” rating and issued a $25.00 price target on shares of Apptio in a report on Wednesday, November 1st. Jefferies Group restated a “buy” rating and issued a $33.00 price target on shares of Apptio in a report on Tuesday, February 6th. Finally, JMP Securities initiated coverage on Apptio in a report on Monday, November 27th. They issued an “outperform” rating and a $28.00 price target on the stock.
In related news, CFO Kurt Shintaffer sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.22, for a total value of $524,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sachin Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $25.76, for a total value of $2,060,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 515,418 shares of company stock worth $12,490,703. 43.20% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. lifted its stake in Apptio by 3,900.0% in the 4th quarter. Thompson Davis & CO. Inc. now owns 5,000 shares of the technology company’s stock valued at $118,000 after buying an additional 4,875 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of Apptio by 244.9% during the 2nd quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after purchasing an additional 7,242 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Apptio during the 2nd quarter worth $207,000. Trexquant Investment LP purchased a new position in shares of Apptio during the 3rd quarter worth $230,000. Finally, Crestline Management LP purchased a new position in shares of Apptio during the 4th quarter worth $309,000. 47.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Apptio (NASDAQ:APTI) opened at $26.81 on Tuesday. Apptio has a fifty-two week low of $10.77 and a fifty-two week high of $27.60.
Apptio (NASDAQ:APTI) last released its quarterly earnings results on Monday, February 5th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $49.93 million. Apptio had a negative return on equity of 35.28% and a negative net margin of 13.59%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. analysts predict that Apptio will post -0.44 EPS for the current fiscal year.
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Apptio Company Profile
Apptio, Inc is a provider of technology business management (TBM) solutions. The Company’s cloud-based platform and software as a service (SaaS) applications enable information technology (IT) leaders to analyze, optimize and plan technology investments, and benchmark the financial and operational performance against peers.
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